COTA bleeds red-ink again, racetrack’s CEO sacked

Two years after moving him into the CEO slot at Circuit of The Americas, the Austin racetrack's board of directors has removed Jason Dial from the chief executive's post.

COTA issued the following statement to the media:

After careful consideration, the Circuit of The Americas (COTA) board of directors has decided to part ways with CEO Jason Dial. We appreciate Jason’s hard work in his two years at COTA, but it’s time to move in a different direction. As we embark on a busy year, we are committed to delivering an outstanding fan experience and world-class events. While a search for replacement is underway, an interim executive committee of the board will lead COTA’s day-to-day operations."

Dial was promoted to CEO in November 2013, one month after he was hired as COTA's president. Dial replaced Steve Sexton, who had been CEO since February 2011.

Prior to joining COTA, Dial was chief marketing officer of the Tampa Bay Buccaneers NFL team and had worked as associate marketing director at Proctor and Gamble.

In late October, COTA's signature event, the U.S. Grand Prix Formula 1 race, posted its third-straight year of declining attendance.